By Jade Markus, Commodity News Service Canada
WINNIPEG, November 3 (CNS Canada) – ICE Canada canola contracts were mixed, but mostly unchanged, at midday on Thursday.
Advances in the Chicago Board of Trade soybean market provided some underlying support.
“We’ve got a little bit of an upward bias today as the beans kind of firmed up,” one Winnipeg-based trader said.
US soybeans gained as weekly export sales reported by the United States Department of Agriculture reached a marketing year high.
A weaker technical bias overall limited the upside in canola on Thursday.
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“We’re still waiting for the harvest progress to really kick back in again,” the trader said.
He added that southern Alberta and parts of Saskatchewan have had improved conditions, but a large part of Manitoba is seeing high humidity and fog.
“It’s taking a lot longer than we’d like to see and it’s still a struggle out there,” he said.
Volumes were light as investors are waiting to see if selling comes into the market, which would move prices lower.
About 6,252 contracts had traded as of 10:40 CDT.
Milling wheat, durum and barley futures were all untraded and unchanged.
